Dubai – Mubasher: The UAE-based funds Investment Corporation of Dubai (ICD) and Abu Dhabi Investment Authority (ADIA) are seeking to buy a $1 billion (AED 3.67 billion) stake in India’s Reliance Nippon Life Asset Management (RNAM).
ICD and ADIA are offering to buy RNAM’s stake from Reliance Capital, the co-owner of the Indian asset manager, Arabian Business reported, citing informed sources.
Reliance Capital official spokesman declined to comment on the matter.
RNAM is a joint-venture between Reliance Capital and Japan’s insurer Nippon Life, which hold a 42.88% stake in the company.
